Hingham Institution for Savings (NASDAQ:HIFS) Releases Quarterly Earnings Results

Key Points

• Hingham Institution for Savings reported quarterly earnings of $4.82 per share, with a return on equity of 7.89% and net margin of 21.17%.
• The stock fell $6.86 on Friday to $295.14, while trading volume came in above average and the company’s market cap stood at about $643.4 million.
• Institutional interest remained active, with hedge funds and other investors adjusting positions; meanwhile, analyst sentiment was mixed but currently averages to a Buy rating.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) posted its earnings results on Friday. The savings and loans company reported $4.82 EPS for the quarter, Zacks reports. Hingham Institution for Savings had a return on equity of 7.89% and a net margin of 21.17%.

Hingham Institution for Savings Price Performance

Shares of NASDAQ:HIFS traded down $6.86 during trading on Friday, reaching $295.14. The stock had a trading volume of 56,134 shares, compared to its average volume of 47,190. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.64 and a current ratio of 1.64. Hingham Institution for Savings has a 1-year low of $235.17 and a 1-year high of $337.99. The stock has a market cap of $643.41 million, a PE ratio of 12.94 and a beta of 0.83. The business has a fifty day moving average price of $288.07 and a 200-day moving average price of $290.65.

Hedge Funds Weigh In On Hingham Institution for Savings

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in Hingham Institution for Savings by 54.3% during the 1st quarter. AQR Capital Management LLC now owns 1,634 shares of the savings and loans company's stock valued at $389,000 after acquiring an additional 575 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hingham Institution for Savings by 8.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961 shares of the savings and loans company's stock valued at $229,000 after purchasing an additional 75 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Hingham Institution for Savings in the first quarter valued at approximately $952,000. JPMorgan Chase & Co. lifted its position in Hingham Institution for Savings by 23.5% during the second quarter. JPMorgan Chase & Co. now owns 1,358 shares of the savings and loans company's stock worth $337,000 after buying an additional 258 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Hingham Institution for Savings by 78.3% during the second quarter. Sei Investments Co. now owns 1,594 shares of the savings and loans company's stock worth $396,000 after buying an additional 700 shares in the last quarter. 49.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on HIFS shares. Wall Street Zen upgraded Hingham Institution for Savings from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded Hingham Institution for Savings from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

Hingham Institution for Savings Company Profile

Hingham Institution for Savings is a mutual savings bank headquartered in Hingham, Massachusetts. Founded in 1834, the bank combines the community-oriented focus of a mutual institution with the transparency and oversight associated with a publicly traded company under the NASDAQ ticker HIFS.

The institution's core activities include deposit and lending services tailored to individuals and businesses. Deposit offerings encompass checking and savings accounts, money market accounts, certificates of deposit and individual retirement accounts, supported by online and mobile banking platforms.

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